New Delhi : Belgian Prime Minister Bart De Wever said Europe was facing a “rude awakening” after years of growing economic dependence on China. De Wever, who is on a two-day visit to India, said Europe had for too long allowed cheap foreign goods to flood its markets, undermining domestic industries while leaving the continent increasingly dependent on external suppliers.
For too long, Europe looked on as overcapacity was dumped below costs on our markets. As its industrial base was undermined and as dependencies were deliberately built up so that it could be used as leverage,” he said, without directly naming China. For too long, Europe looked on as overcapacity was dumped below costs on our markets. As its industrial base was undermined and as dependencies were deliberately built up so that it could be used as leverage,” he said, without directly naming China.
“India saw this earlier than we did. And they warned us. And we didn’t listen,” he said, in an apparent reference to China’s growing economic footprint and the dumping of goods in European markets. The Belgian leader said Europe was now confronting the consequences of allowing such dependencies to build up, including the possibility of economic relationships being turned into instruments of political pressure.
“India is No.1 on our list. If India is not on your list, then you are missing something fundamental,” he said. He questioned the reliability of countries that could abruptly change trade policies or impose tariffs, arguing that Belgium needed partners with whom it could build relationships based on trust. “Who else can cooperate with us on the basis of trust?” De Wever asked. The Belgian leader said his country wanted to take relations with India to “another level — economically, politically, but also strategically.”
Read Also : ISRO Can’t Do It All Alone: Why India Is Betting Big On Private Space Companies
-
-
-
-
